Richemont’s Montblanc brand and the luxury giant’s Yoox Net-A-Porter e-tail specialist have announced a new partnership. Montblanc will now use YNAP “to power the next iteration of its successful e-commerce platform”.
Sales at Maybelline maker L’Oréal fell more sharply than expected in the second quarter, though the French beauty giant managed to contain any major profit erosion as the COVID-19 pandemic forced stores to close.
Burberry on Friday announced the opening of its long-awaited social retail store in China’s technology hub Shenzhen, “blending the physical and social worlds in a digitally immersive retail experience”.
PayPal reported an 86% jump in Q2 profit on Wednesday as the e-commerce payments processor benefited from the shift to online spending amid the coronavirus pandemic. Net income increased to $1.53 billion.
French luxury group Kering's Q2 comp sales plunged by 43.7% due to the coronavirus. Gucci comp sales fell 45% and Saint Laurent 48%, but recovering Bottega Veneta contained the drop in revenue to only 24.4%
Italian fashion group Prada said on Wednesday sales had recovered sharply in Asia since June after the fallout from the coronavirus pandemic triggered a 40% decline for comparable revenues in the first half of the year.
LVMH, the world’s biggest luxury goods group, said sales momentum picked up in June and had especially improved in China, after store closures sparked by the pandemic tore a hole in the Louis Vuitton owner’s Q2 sales.
The Council of Fashion Designers of America has announced the upcoming launch of Runway360, a digital platform designed to keep members of the American fashion industry connected during the Covid-19 pandemic.
Pitti, fashion’s most important menswear trade fair, has praised the EU agreement to create a 750-billion-euro coronavirus recovery fund, and revealed more details of its plans to welcome Dolce & Gabbana in September.
It’s difficult to imagine a busier executive this summer than Pietro Beccari, CEO of Christian Dior, whose latest stop is in Puglia, with Wednesday’s cruise show. Beccari brings us up to speed on all that's new at Dior.